AfDB mobilizes $2.2B to back water security in Egypt

Updated 5/24/2023 10:53:00 AM
AfDB mobilizes $2.2B to back water security in Egypt

Arab Finance: African Development Bank Group (AfDB), along with development partners, has mobilized $2.2 billion to support Egypt’s water security, up from the previous mobilization target of $1.4 million, AfDB’s President Akinwumi Adesina said during the Group’s 2023 Annual Meetings in Sharm El Sheikh on May 23rd.

The funds will be directed to the water pillar of the Nexus of Water, Food, and Energy (NWFE) program to develop water desalination and treatment plants for agricultural purposes, Adesina added.

Earlier this year, the bank was selected as the main development partner in the water pillar within the program.

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